https://www.taxtmi.com/caselaws?id=119310 Modvat credit taken on inputs could not be denied merely because there was no one-to-one correlation between the inputs and a particular cleared final product. Where the assessee maintained a consolidated Modvat credit account, validly earned credit was available for discharge of duty on excisable final products and was not confined to item-by-item linkage. On that basis, credit on electrical motors and cables could not be treated as wrongly utilised simply because those inputs were not used in the specific loaders under dispute. The demand and penalty were therefore held unsustainable and were set aside in favour of the assessee. en-us Fri, 13 May 2005 00:00:00 +0530 Tue, 10 Jul 2012 13:01:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119310 Modvat credit taken on inputs could not be denied merely because there was no one-to-one correlation between the inputs and a particular cleared final product. Where the assessee maintained a consolidated Modvat credit account, validly earned credit was available for discharge of duty on excisable final products and was not confined to item-by-item linkage. On that basis, credit on electrical motors and cables could not be treated as wrongly utilised simply because those inputs were not used in the specific loaders under dispute. The demand and penalty were therefore held unsustainable and were set aside in favour of the assessee. Case-Laws Central Excise Fri, 13 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119310